Whether gst to be charged on Government value or transaction value of property

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Senior Accountant
39 Points Posted on 24 August 2020
Flat purchased at 30 lacs and
government value Rs. 40 lacs
since registered value will be government value, whether gst to be charged on Govt. value or transaction value (agreement value)???
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On 24 August 2020 at 17:26 Report
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Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) on an under-construction property should be calculated based on the government's assessed value or the actual transaction (agreement) value. The consensus is that GST is typically applied to the transaction value agreed upon between the buyer and seller.

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CA Job
606 Points Posted on 25 August 2020

Sir, 
is the property constructed , or property is under construction and you are purchasing before getting Certificate of Completion?
 

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On 25 August 2020 at 13:16
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Senior Accountant
39 Points Posted on 25 August 2020
Property is under construction
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On 25 August 2020 at 13:18

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